2017/01/20/(Fri)

OPC, CHEC ink deal for Puerto Cortes expansion [Shipping Line]

Operadura Portuaria Centroamericana SA de CV (OPC) has signed a contract with China Harbour Engineering Company (CHEC) for the first phase of the expansion of the Specialized Container and Cargo Terminal in Puerto Cortes, Honduras.

The first phase covers the construction of a 350-meter long berth with a controlling depth of 15.5 meters, two trestles that will be connected to the existing yard, and dredging of the bay up to 14 meters deep. The new berth will be equipped with two super post-Panamax quay cranes, bringing OPC’s total number of quay cranes to six.

Scheduled for completion by mid-2018, the terminal expansion will position Puerto Cortes as the most competitive port in the Caribbean. The port, located north and along the Atlantic coast of Honduras, is the country’s center of transportation and commerce. Considered to be one of the most important ports in Central America, it handles 85 percent of shipment to Honduras, 10 percent to El Salvador and five percent to Nicaragua.

In 2013, ICTSI was awarded a 30-year concession for the design, financing, construction, maintenance, operation and exploration of the Specialized Container and Cargo Terminal in Honduras.

Operadura Portuaria Centroamericana SA de CV (OPC) is a subsidiary of International Container Terminal Services, Inc.

2016/10/31/(Mon)

Notice of Agreement to the Integration of Container Shipping Businesses [Shipping Line]

Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines Ltd., and Nippon Yusen Kabushiki Kaisha haveagreed, after the resolution by the board of directors of each company held today, and subject toregulatory approval from the authorities, to establish a new joint-venture company to integratethe container shipping businesses (including worldwide terminal operating businesses excludingJapan) of all three companies and to sign a business integration contract and a shareholdersagreement.1. BackgroundAlthough growing modestly, the container shipping industry has struggled in recent years due toa decline in the container growth rate and the rapid influx of newly built vessels. These twofactors have contributed to an imbalance of supply and demand which has destabilized theindustry and has created an environment that is adverse to container line profitability. In order tocombat these factors, industry participants have sought to gain scale merit through mergers andacquisitions and consequently the structure of the industry is changing through consolidation.Under these circumstances, three companies have now decided to integrate their respectivecontainer shipping on an equal footing to ensure future stable, efficient and competitive businessoperations.The new joint-venture company is expected to create a synergy effect by utilizing the bestpractices of the three companies. And by taking advantage of scale merit of its vessel fleettotaling 1.4 million TEUs, realize integration effect of approximately 110 billion Japanese Yenannually and seek swiftly financial performance stabilization.By strengthening the global organization and enhancing the liner network, the new joint-venturecompany aims to provide higher quality and more competitive services in order to exceed ourclients’ expectations.